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Bata Shoe Co. Q2 profit climbs 51.4% YOY

Bata Shoe Co. (Bangladesh) Ltd. said its second-quarter normalized net income amounted to 13.04 taka per share, a gain of 51.4% from 8.61 taka per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 178.5 million taka, an increase of 51.4% from 117.9 million taka in the year-earlier period.

The normalized profit margin increased to 8.6% from 6.6% in the year-earlier period.

Total revenue rose 16.0% on an annual basis to 2.06 billion taka from 1.78 billion taka, and total operating expenses rose 11.8% year over year to 1.78 billion taka from 1.59 billion taka.

Reported net income grew 50.7% from the prior-year period to 194.0 million taka, or 14.18 taka per share, from 128.8 million taka, or 9.41 taka per share.

As of July 29, US$1 was equivalent to 78.47 taka.